Ping An reports market share increase in Q3

China's Ping An Insurance, the world's No. 2 life insurer by market value, Tuesday reported an increase in its market share in both its life insurance and property insurance business in the first three quarters of this year.

According to Ping An's report released Tuseday, the company's premium income in the life insurance sector reached 104.72 billion yuan in the first nine months, up 33.5 percent year-on-year, while the figure in property insurance business stood at 29.02 billion yuan, up 38.5 percent from a year earlier.

The number of sales personnel working in the life insurance sector increased to 403,000, up 13.3 percent from the end of 2008.

As of the end of September this year, the company's net profit to be distributed to shareholders was 6.92 billion yuan, and its net profit in the July-September quarter was 2.58 billion yuan.

Ping An shares closed at 58.97 yuan at the Shanghai Stock Exchange Tuesday, dropping 0.66 percent from a day earlier.

Its larger rival, China Life Insurance Co reported a day earlier that its third-quarter earnings more than doubled thanks to the stock market recovery.

China Life Insurance posted 237,25 billion yuan in premium income in the first nine months of 2009, according to a report from the insurance company.
 

Explore the World, Understand China!
Please log on www.gloaltimes.cn